Stormy weather delays salmon – but keeps prices stable

According to the Norwegian Public Roads Administration, the country’s largest fish farming county, Nordland, is severely affected. Here is the roads E6 over Saltfjellet, Ev 10 Bjørnefjell and Ev 12 Umbukta closed due to bad weather, while several ferry connections are cancelled. In Southern Norway, Rv 7 Hardangervidda is closed.

The weather gives challenges for logistics – and sets the price for salmon today.

Facts

Every Friday after lunch, SalmonBusiness reports spot prices for salmon. These are fish to be delivered the following week. Here we contact several links in the value chain, including farmers, exporters and importers. We always have at least five independent sources, although not all sources necessarily appear on print. We vary the sources we use and do not use the same sources each time.

“Lots of cancellations. It’s been trouble – and is trouble. Everything is delayed,” says an exporter to SalmonBusiness.

“We thought the prices were going down, but it didn’t happen. We have pretty much the same price as last Friday.”

“The market is not quite there, but we have to pay that. We are not sure if we will get it back.”

SalmonBusiness’ industrial sources outline the following price level, to fish farmers, for the most widely traded salmon sizes next week:

3-4 kilograms NOK 58-60 (€5.8-6.0)

4-5 kilograms NOK 60-61 (€6.0-6.1)

5-6 kilograms NOK 61-63 (€6.1-6.3)

6+ kilograms NOK 60-65 (€6.0-6.5)

“What I’ve heard is stability [for the price]. There have been a lot of cancellations on the end week, but I do not know if it will have any effect,” says a trader.

“There is bad weather, and less fish available. Many wellboats struggle,” says a salesperson in a fish farming company.

At the same time, the end market is described as hesitant.

“The prices have to come down significantly if they are to match the prices out,” an exporter says.